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Finnovate Acquisition (Finnovate Acquisition) ROE % : 1.99% (As of Mar. 2024)


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What is Finnovate Acquisition ROE %?

ROE % is calculated as Net Income divided by its average Total Stockholders Equity over a certain period of time. Finnovate Acquisition's annualized net income for the quarter that ended in Mar. 2024 was $0.97 Mil. Finnovate Acquisition's average Total Stockholders Equity over the quarter that ended in Mar. 2024 was $48.52 Mil. Therefore, Finnovate Acquisition's annualized ROE % for the quarter that ended in Mar. 2024 was 1.99%.

The historical rank and industry rank for Finnovate Acquisition's ROE % or its related term are showing as below:

FNVT' s ROE % Range Over the Past 10 Years
Min: 0.63   Med: 1.42   Max: 2.2
Current: 1.51

During the past 3 years, Finnovate Acquisition's highest ROE % was 2.20%. The lowest was 0.63%. And the median was 1.42%.

FNVT's ROE % is ranked better than
56.49% of 524 companies
in the Diversified Financial Services industry
Industry Median: 0.53 vs FNVT: 1.51

Finnovate Acquisition ROE % Historical Data

The historical data trend for Finnovate Acquisition's ROE % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Finnovate Acquisition ROE % Chart

Finnovate Acquisition Annual Data
Trend Dec21 Dec22 Dec23
ROE %
- 0.63 2.20

Finnovate Acquisition Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
ROE % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3.60 2.80 0.05 0.68 1.99

Competitive Comparison of Finnovate Acquisition's ROE %

For the Shell Companies subindustry, Finnovate Acquisition's ROE %, along with its competitors' market caps and ROE % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Finnovate Acquisition's ROE % Distribution in the Diversified Financial Services Industry

For the Diversified Financial Services industry and Financial Services sector, Finnovate Acquisition's ROE % distribution charts can be found below:

* The bar in red indicates where Finnovate Acquisition's ROE % falls into.



Finnovate Acquisition ROE % Calculation

Finnovate Acquisition's annualized ROE % for the fiscal year that ended in Dec. 2023 is calculated as

ROE %=Net Income (A: Dec. 2023 )/( (Total Stockholders Equity (A: Dec. 2022 )+Total Stockholders Equity (A: Dec. 2023 ))/ count )
=2.495/( (178.076+48.403)/ 2 )
=2.495/113.2395
=2.20 %

Finnovate Acquisition's annualized ROE % for the quarter that ended in Mar. 2024 is calculated as

ROE %=Net Income (Q: Mar. 2024 )/( (Total Stockholders Equity (Q: Dec. 2023 )+Total Stockholders Equity (Q: Mar. 2024 ))/ count )
=0.968/( (48.403+48.646)/ 2 )
=0.968/48.5245
=1.99 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

In the calculation of annual ROE %, the net income of the last fiscal year and the average total shareholder equity over the fiscal year are used. In calculating the quarterly data, the net income data used here is four times the quarterly (Mar. 2024) net income data. ROE % is displayed in the 30-year financial page.


Finnovate Acquisition  (NAS:FNVT) ROE % Explanation

ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.

The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:

ROE %(Q: Mar. 2024 )
=Net Income/Total Stockholders Equity
=0.968/48.5245
=(Net Income / Revenue )*(Revenue / Total Assets)*(Total Assets / Total Stockholders Equity)
=(0.968 / 0)*(0 / 51.692)*(51.692 / 48.5245)
=Net Margin %*Asset Turnover*Equity Multiplier
=N/A %*0*1.0653
=ROA %*Equity Multiplier
=N/A %*1.0653
=1.99 %

With this breakdown, it is clear that if a company grows its Net Profit Margin, its Asset Turnover, or its Leverage, it can grow its ROE %.

The factors that affect a company's ROE % can also be illustrated with the five-step DuPont Analysis:

ROE %(Q: Mar. 2024 )
=Net Income/Total Stockholders Equity
=0.968/48.5245
=(Net Income / Pre-Tax Income) * (Pre-Tax Income / Operating Income) * (Operating Income / Revenue) * (Revenue / Total Assets) * (Total Assets / Total Stockholders Equity)
= (0.968 / 0.968) * (0.968 / -1.284) * (-1.284 / 0) * (0 / 51.692) * (51.692 / 48.5245)
= Tax Burden * Interest Burden * Operating Margin % * Asset Turnover * Equity Multiplier
= 1 * -0.7539 * N/A % * 0 * 1.0653
=1.99 %

Note: The net income data used here is four times the quarterly (Mar. 2024) net income data. The Revenue data used here is four times the quarterly (Mar. 2024) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Be Aware

Net Income is used.

Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.

Asset light businesses require very few assets to generate very high earnings. Their ROE %s can be extremely high.


Finnovate Acquisition ROE % Related Terms

Thank you for viewing the detailed overview of Finnovate Acquisition's ROE % provided by GuruFocus.com. Please click on the following links to see related term pages.


Finnovate Acquisition (Finnovate Acquisition) Business Description

Traded in Other Exchanges
N/A
Address
20 Genesis Close, The White House, George Town, Grand Cayman, CYM, KY1 1208
Finnovate Acquisition Corp is a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or other similar business combination with one or more businesses.
Executives
Chun Yi Hao director 2 BURLINGTON WOODS DRIVE, SUITE 100, BURLINGTON MA 01803
Sanjay Prasad director 25 MALL ROAD, SUITE 330, BURLINGTON MA 01803
Tiemei Sarah Li director THE WHITE HOUSE, 20 GENESIS CLOSE, GEORGE TOWN E9 KY1 1208
Meitav Investment House Ltd 10 percent owner 30 DEREKH SHESHET HA-YAMIM ST., BENE-BERAQ L3 5112302
Wang Chiu Wong director, 10 percent owner, officer: Chief Financial Officer THE WHITE HOUSE 20 GENESIS CLOSE, GEORGE TOWN, E9 KY1 1208
Calvin Kung director, 10 percent owner, officer: Chief Executive Officer THE WHITE HOUSE 20 GENESIS CLOSE, GEORGE TOWN E9 KY1 1208
Sunorange Ltd. 10 percent owner C/O FINNOVATE ACQUISITION CORP., THE WHITE HOUSE 20 GENESIS CLOSE,, GEORGE TOWN E9 KY11208
Mitchell Alan Garber director ONE CAESARS PALACE DRIVE, LAS VEGAS NV 89109
Ron Avshalom Golan director, officer: Chief Financial Officer 6 FROGNAL CLOSE, LONDON X0 NW3 6YB
Gustavo Rodolfo Schwed director 34 WEST 17TH STREET, PH, NEW YORK NY 10011
David Gershon director, officer: Chief Executive Officer 9 MAURIZIO VITALE APT. 47, TEL AVIV L3 6965104
Nadav Zohar director C/O FINNOVATE ACQUISITION CORP.,, 94 YIGAL ALON ST., TEL AVIV L3 6789139
Jonathan Ophir officer: Chief Investment Officer C/O FINNOVATE ACQUISITION CORP.,, 94 YIGAL ALON ST., TEL AVIV L3 6789139
Finnovate Sponsor L.p. 10 percent owner C/O FINNOVATE ACQUISITION CORP.,, 94 YIGAL ALON ST., TEL AVIV L3 6789139
Finnovate Sponsor Llc 10 percent owner C/O FINNOVATE ACQUISITION CORP., 94 YIGAL ALON ST., TEL AVIV L3 6789139